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Michelin is investing in pyrolysis-based tire-recycling technology developed by Enviro Systems. The Swedish firm’s approach yields carbon black, a tire raw material, as well as oil, steel, and gas. As part of the deal, Michelin will become Enviro’s largest shareholder at 20%, a stake worth about $3.2 million. The firms plan to build a plant, the largest using Enviro’s system, at a not-yet-determined location. In 2017 Michelin acquired Lehigh Technologies, which grinds frozen tires into micronized rubber powder.
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